EU Commission wants to increase state aid for sanctions-hit companies

"As the crisis persists, we are also proposing to increase the maximum level of aid that can be granted under the Framework," European Commission antitrust chief Magrethe Vestager said in a statement. "We will decide on the way forward taking into account the views of all Member States and the need to preserve effective competition in the Single Market," Vestager said.

The European Commission wants to increase state aid granted to EU companies affected by the sanctions levied against Russia due to its invasion of Ukraine and is seeking feedback from EU countries before a final decision. "As the crisis persists, we are also proposing to increase the maximum level of aid that can be granted under the Framework," European Commission antitrust chief Magrethe Vestager said in a statement.

"We will decide on the way forward taking into account the views of all Member States and the need to preserve effective competition in the Single Market," Vestager said. The proposal sent to the 27 member states also takes into consideration the EU goal of becoming independent from fossil fuels and the need for additional measures to further accelerate the diversification of energy supplies.